Pet health insurance? 5 things you need to know before buying

Pets are a part of the family for many people, and just like with any other member of the family, pet owners want to make sure they are taken care of in case something happens. And while every pet owner hopes that their dog or cat will live long, healthy lives, accidents and illnesses can happen at any time. That’s why it’s important to consider pet insurance to help protect your furry friend from the high costs of veterinary care if something happens. 

But before you decide to get pet insurance for your pup, there are some things you need to know. Since there are a lot of different pet insurance policies out there, doing some research beforehand can help you choose the best policy for your needs and budget. So if you’re considering pet insurance for your pup, here’s what you need to know.

What does pet insurance cover?

Pet insurance is a type of insurance policy that covers the costs of veterinary care, including visits to the vet, diagnostic tests and treatments, surgeries, medications, and more.

The specific types of treatments and procedures covered by pet insurance will depend on the policy you choose. Most reputable pet insurance policies will cover common illnesses and injuries like broken bones or sprains; however, some policies may include coverage for hereditary conditions and congenital disabilities.

Some policies may offer alternative therapies such as medical massage, acupuncture, or hydrotherapy coverage. If you are not sure what type of coverage you need, it’s good to speak with a veterinary professional or pet insurance agent to find out more.

How to buy pet insurance?

When it comes to buying pet insurance, there are several options. One option is to go directly through the insurance company and purchase a policy they offer.

Another option is to buy pet insurance through a third party, such as an online broker or agent who can help you compare policies and find the best one for your needs and budget.

You can easily find pet insurance online through many different websites and agencies. And while it’s helpful to get quotes from multiple companies, it’s important to remember that the cheapest policy is not always the best one. So be sure to read the policy details carefully before making a decision.

You can also purchase pet insurance through your vet, although this option is not always the most cost-effective. But if you have a trusted relationship with your vet and they offer pet insurance policies, it may be worth considering. This is also a good option if you need specific coverage for a condition or treatment that not all policies offer.

What types of pet health insurance plans are available?

There are a few different types of pet insurance plans available, and the one you choose will depend on your needs and budget. 

The first type of plan is called “accident-only,” which, as the name suggests, only covers accidents. This policy is usually the cheapest option, but it won’t cover any illnesses or conditions. However, if you are only looking for coverage if your pet is injured, this may be the right option.

The next type of plan is “comprehensive,” covering both accidents and illnesses. This type of policy is more expensive than accident-only, but it will provide you with peace of mind knowing it covers your pet in any eventuality. This is especially important if you have an older pet, as they are more likely to experience health problems.

You may also get a “wellness” or “preventative care” insurance plan, which covers the costs of routine care and preventative treatments, such as vaccinations, teeth cleanings, and more. This policy is not as common, but it can be an excellent option to ensure your pup is always up-to-date on their routine care. 

Factors to consider to get the right health insurance policy

When it comes to finding the right pet insurance policy, there are a few things you need to take into consideration.

First, you need to decide whether you want comprehensive or accident and illness coverage.

Comprehensive pet insurance policies will cover accidents and illnesses and routine care like vaccinations and annual check-ups. However, they tend to be more expensive than policies covering accidents and illnesses. 

Some dog breeds are also more prone to certain health conditions than others, so it’s essential to consider that when choosing a policy.

For example, labs are susceptible to hip dysplasia, while pugs are prone to developing respiratory problems. If your dog is a breed known to be predisposed to certain conditions, it may be good to look for a policy that covers them.

How does pet health insurance work?

Once you’ve chosen a policy, you’ll need to pay premiums monthly or yearly. And like most insurance policies, you’ll also have to pay a deductible before the policy kicks in. The deductible amount will depend on your policy, but it’s typically $50-$100. Once you’ve met your deductible, most pet insurance policies will cover 70-80% of the costs of vet bills. 

If your pet needs to see the vet for an accident or illness, you will pay the vet bill and submit a claim to the insurance company. The insurance company will then reimburse you for a portion of the cost based on your chosen coverage.  

However, some policies may limit how much they will reimburse per year or condition, so read the fine print before you sign up for a policy. And it’s also important to note that most pet insurance policies do not cover pre-existing conditions, so if your pet has any existing health problems when you purchase the policy, those will likely be excluded from coverage.

Choose the right option 

Even though pet health insurance can seem expensive up front, it’s an investment that will save you money in the long run. If your pup develops a severe illness or injury and requires expensive veterinary care, pet insurance can help to ease the financial burden of those costs.

Health insurance can be a  lifesaver in some cases, so it’s well worth considering for any dog owner.

Make sure you understand how health insurance works to determine the coverage best suited to your needs.

And remember, there’s no right or wrong answer. The most important thing is that you do what’s best for you and your pup!